Summary
Nauru Tower sales have been extremely slow in the first half of 2010.  This is in sharp contrast to many of the competing Kakaako condo buildings which are experiencing strong demand.  Five 1-bedroom apartments are for sale and there is a nice assortment of 2-bedroom apartments for sale.  In addition, a rarely available parking space is for sale.

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month.  As you can see, the number of apartments for sale has been rising in 2010 after declining through most of 2009.  In the last six months, Nauru Tower averaged two sales every three months and if that pace continues, it will take over 16 months to sell the 11 apartments on the market. 

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the Ala Moana Shopping Center and Ward Centers.

Availability
Apartments in the building:  302
Apartments available for sale:  11
Average days on market to date:  110
Apartments listed for sale in the last 30 days:  0
Months of inventory available:  16.5

Sales
Apartments under contract in escrow:  0
Apartments sold in the last 120 days:  2
Average days on market:  195
Average price per square foot:  $733.61
Sales Price / List Price:  93%

Would you like to learn more?  Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu condo search.  Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.

Summary
Despite a sluggish Oahu economy, Nauru Tower sales really took off at the end of 2009.  That leaves very few apartments for buyers to choose from.  Nevertheless, there are a few high floor 2-bedroom apartments for sale and two parking stalls are also available.  In addition, there is a high floor 1-bedroom leasehold apartment for sale, but it is fairly expensive.

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month.  As you can see, the number of apartments for sale steadily declined during the last year.  In the last six months, Nauru Tower averaged two sales each month and if that pace continues, it will take over 2.5 months to sell the 5 apartments on the market. 

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the Ala Moana Shopping Center and Ward Centers.

Availability
Apartments in the building:  302
Apartments available for sale:  5
Average days on market to date:  90
Apartments listed for sale in the last 30 days:  0
Months of inventory available:  2.5

Sales
Apartments under contract in escrow:  2
Apartments sold in the last 90 days:  3
Average days on market:  20
Average price per square foot:  $743.09
Sales Price / List Price:  94%

Would you like to learn more?  Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu condo search.  Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.

Summary
The sales pace at Nauru Tower has slowed in conjunction with the overall economy.  The number of apartments for sale is at its highest point in a year, so there is a nice mix of apartments to choose from.  Two of these apartments have been on the market over 300 days; neither is priced to sell.  When I wrote my last Nauru Tower market report in October 2008, there were no 1-bedroom apartments for sale.  Now, five are available and one of those is a high floor leasehold unit (it is no bargain). 

 

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. As you can see, the number of apartments for sale varied quite a bit over the past year, but has doubled since mid 2008. In the last six months, Nauru Tower averaged under one sale per month and if that pace continues, it will take more than 16 months to sell the 14 apartments on the market.

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the Ala Moana Shopping Center and Ward Centers.

Availability
Apartments in the building:  302
Apartments available for sale:  14
Average days on market to date:  114
Apartments listed for sale in the last 30 days:  3
Months of inventory available:  16.8

Sales
Apartments under contract in escrow:  2
Apartments sold in the last 90 days:  1
Average days on market:  96
Sales Price / List Price:  91%

Would you like to learn more?  Please visit my web site to view Nauru Tower apartments for sale or conduct your own Honolulu home MLS search.  Contact Michael Zimmerman for a no obligation consultation if you’re considering selling or buying a home or investment property.

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Summary
Since the March 2008 Nauru Tower Condominium Market Report, the sales dynamics of Nauru Tower have not improved much.  In that report, I noted five units had been listed for sale over 200 days; they are still with us.  They were removed from the market for a short time and re-listed for sale, but that doesn’t change the fact that they have been available for several hundred days.  That said, there is a great mix of one and two-bedroom units for sale (low, mid and high floor).  All but one of the eight units for sale are said to be in excellent condition.  The best advice I have for both buyers and sellers is to study the most recent sales data before deciding on an offer or selling price.

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Schools
Elementary:  Kaahumanu
Middle:  Central
High:  McKinley

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the Ala Moana Shopping Center, Ward Centers and the Whole Foods Market currently under construction.

Availability
Units in the building:  302
Units available for sale:  8
Average days on market to date:  69**
Units listed for sale in the last 30 days:  5
Months of inventory available:  6.9

**This figure is misleading as several units were previously on the market over 200 days.  The listings either expired or were withdrawn and then were subsequently listed for sale again.  This practice artificially reduces the average days on market figure.

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  1
Average days on market:  257
Sales Price / List Price:  92%

Would you like to learn more?  Please visit my web site to view Nauru Tower units for sale, contact Michael Zimmerman for a no obligation consultation or conduct your own Honolulu home MLS search.

Nauru Tower Condominium

1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Elementary School:  Kaahumanu
Middle School:  Central
High School:  McKinley

Feature
Conveniently located across the street from the Ala Moana Beach Park and just one block west of the Ala Moana Shopping Center.

Summary
Of the 11 units available for sale, three have been on the market over 300 days (two of those three have been on and off the market dating back to mid 2006) and two units have been available for over 200 days.  Why aren’t these units selling?  It’s not location.  It’s not condition as all are advertised to be in excellent condition.  So that leaves price.  It appears there are quite a few owners who may not be all that serious about selling their home.  At some point, one or more of these units may present a great opportunity for a patient buyer.

There are very few three bedroom units available in Nauru Tower, but one is available as of March 12.  This unit combines the two bedroom unit 3301 and one bedroom unit 3302.  It even has a bonus room that can be used as a fourth bedroom or a den.  This unit isn’t for everyone, but presents a unique opportunity for someone looking to reshape the unit to their liking.

Availability
Units in the building:  302
Units available for sale:  11
Average days on market to date:  167
Units listed for sale in the last 30 days:  2
Months of inventory available:  6.6

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  3
Average days on market:  153

Would you like to learn more?  Please visit my web site to view Nauru units for sale, contact Michael Zimmerman for a no obligation consultation or conduct your own Honolulu home search.